Could you please help with attached questions, thanks much. Listed below are several transactions that took place during the second and third years of operations for the RPG Company.Year 2 Year 3$300,000 $400,000210,000 350,000Amounts billed to customers for services renderedCash collected from credit customersCash disbursements:Payment of rentSalaries paid to employees for services rendered during the yearUtilitiesAdvertisingIn addition, you learn that the company incurred advertising costs of $20,000 in year 2, owed the advertising agency $4,500 at theend of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rentpayment was for a two-year period, year 2 and year 3.Complete this question by entering your answers in the tabs below.Required:1. Calculate accrual net income for both years.2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2.Required 1 Required 275,000135,00025,00012,5000155,00035,00030,000< Required 1Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end ofyear 2.Advertising liability at end of Year 2Required 2 > Listed below are several transactions that took place during the second and third years of operations for the RPG Company.Year 2Year 3$300,000 $400,000210,000 350,000Amounts billed to customers for services renderedCash collected from credit customersCash disbursements:Payment of rentSalaries paid to employees for services rendered during the yearUtilitiesAdvertisingComplete this question by entering your answers in the tabs below.In addition, you learn that the company incurred advertising costs of $20,000 in year 2, owed the advertising agency $4,500 at theend of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rentpayment was for a two-year period, year 2 and year 3.Required 1 Required 2Required:1. Calculate accrual net income for both years.2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2.Calculate accrual net income for both years.RevenuesExpenses:RentSalariesUtilitiesAdvertisingNet incomeYear 2Year 375,000135,00025,00012,500< Required 10Required 2 >155,00035,00030,000

The income statement is prepared to record the revenue and expenses of the current period. The income statement tells about the profits or losses incurred during the period.Part 1. INCOME STATEMENT Year 2 Year 3 Revenues $300,000 $400,000 Expenses: Rent (37,500) (37,500) Salaries (135,000) (155,000) Utilities (25,000) (35,000) Advertising (20,000) (18,000) Net income $82,500 $154,500 Part 2. Liability for advertising at end of year 2 = $12,000 Rent expense per year = $75,000/2 = $37,500 Advertising expense for year 2 = $20,000 Accrued advertising expense at end of year 1 = $4,500 Accrued advertising expense at end of year 2 = 20,000 + 4,500 – 12,500 = $12,000 Advertising expense for year 3 = 30,000 – 12,000 = $18,000

Business

Accounting

Amounts billed to customers for services rendered Cash collected from credit customers Cash disbursements: Payment of rent Salaries paid to employees for services rendered during the year Utilities Advertising Complete this question by entering your answers in the tabs below. Year 2 Year 3 $300,000 $400,000 210,000 350,000 n addition, you learn that the company incurred advertising costs of $20,000 in year 2, owed the advertising agency $4,500 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3. Required 1 75,000 135,000 155,000 25,000 35,000 12,500 30,000 Required: 1. Calculate accrual net income for both years. 2. Determine the amount due the advertising agency that would be shown as a liability on RPG's balance sheet at the end of year 2. Required 2 0